SKF strengthens analytics capability through acquisition

Rhea-AI Summary

SKF has acquired Rubico Consulting AB, enhancing its analytics capabilities. Based in Luleå, Sweden, Rubico specializes in visualizing and analyzing signal data, which will integrate into SKF's rotating shaft offerings and advance technologies like fiber-optic sensors. The patented edge algorithm from Rubico automates machine data analysis, supporting energy-efficient systems. This acquisition aligns with SKF's commitment to develop its IoT hub in Luleå, a region emerging as a center for industrial innovation.

Positive

• Acquisition of Rubico Consulting AB enhances SKF's analytics capabilities.
• Integration of Rubico's expertise into SKF's existing technologies, particularly in signal data analysis.
• Potential for new product development, including fiber-optic sensors and energy-efficient systems.
• Strategic investment in Luleå, aligning with its status as a hub for industrial innovation.

Negative

• None.

GOTHENBURG, Sweden, Aug. 31, 2021 /PRNewswire/ -- SKF has completed the acquisition of Rubico Consulting AB, an industrial consultancy firm with 10 employees based in Luleå, Sweden.  

Rubico Consulting AB specialises in visualisation and analysis of signal data. This expertise will be integrated into SKF's offer around the rotating shaft, as well as powering new technology areas such as bearings with fiber-optic sensors.

Victoria Van Camp, President, SKF Technology, says: "Rubico's expertise in signal processing enhances our existing technology base, spanning from traditional IoT hardware to the latest in edge computing. The patented edge algorithm developed by Rubico simplifies and automates analysis of machine data and is an enabler for wireless, energy efficient systems. We look forward to engaging the Rubico team in the development of SKF's proprietary fiber optic-based load sensing, a technology already being piloted in the north of Sweden."

"With its leading university and focus on sustainable technology investments, Luleå is quickly becoming a hub of industrial innovation within both renewable energy and green steel. This is one of the reasons why SKF continues to invest in developing its hub for IoT development in Luleå."

Aktiebolaget SKF
      (publ)

For further information, please contact:

PRESS:
Carl Bjernstam
Corporate Communication
tel: 46 31-337 2517
mobile: 46 722-201893
e-mail: carl.bjernstam@skf.com

INVESTOR RELATIONS:
Patrik Stenberg
Head of Investor Relations
 46 31-337 2104; 46 705-472 104
patrik.stenberg@skf.com

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SOURCE SKF

FAQ

What is the purpose of SKF's acquisition of Rubico Consulting AB?

SKF aims to enhance its analytics capabilities and integrate advanced signal processing expertise into its technology offerings.

How will Rubico's expertise impact SKF's product development?

Rubico's expertise will support advancements in technologies like fiber-optic sensors, improving SKF's overall product offerings.

Where is Rubico Consulting AB located?

Rubico Consulting AB is based in Luleå, Sweden.

What technologies does Rubico specialize in?

Rubico specializes in the visualization and analysis of signal data.

How does this acquisition position SKF in the market?

The acquisition strengthens SKF's position in IoT and analytics, particularly in the renewable energy and green steel sectors.